Ecolab to acquire oil- feld chemicals frm Champion Technologies

摘要

Ecolab has agreed to acquire oilfeld chemicals frm Champion Technologies (Houston) for $2.2 billion. The purchase price will be paid through a mix of approximately 75% cash and 25% stock, Ecolab says. Closing is expected by year-end 2012. "This transaction represents a rare opportunity to build on our position in a fast-growing market by improving our geo- graphic coverage and technology oferings," says Douglas Baker, Ecolab chairman and CEO. "As a premier company and proven innovator committed to delivering outstanding technology and service, Champion represents a very attractive business that opportunistically became available, enabling us to acquire an outstanding operator." Champion delivers product and service- based oferings to the oil and gas industry and has about 3,300 employees in over 30 countries. 2011 sales for the company were $1.2 billion.